Loretta Lynn Was Right

  by Ann Barr

One morning last month I went shopping at Pembroke Mall, a local shopping mall here in Virginia Beach. Or, rather . . . I tried to go shopping.

All of the stores were closed, except one.

Kohl's department store was open (at 9:30 a.m.) and I learned that the other stores in the mall were not scheduled to open until 10 a.m. The store was filled with shoppers, and employees at the cash registers were busy.

So, while all of the other stores were closed, Kohl's was busy making sales.

By opening earlier than the other stores, Kohl's differentiates itself from competitors and starts selling earlier.

Country singer Loretta Lynn was right. She said: "To be successful, you either have to be first, best or different."

The Importance of Different

Two good examples of businesses that differentiate their companies from competitors:

Cingular cellular phone company in the U.S. provides its customers with "rollover" minutes. So, if Cingular customers don't use all of their minutes one month, the minutes can be used the next month.

As far as I know, no other cell phone service provides that benefit to consumers.

Nextel advertises "Every incoming call—free from anyone, from any network at any time. Only from Nextel."

Advertising these differences is very smart marketing on the part of Cingular and Nextel, because the more alike two products are, the more important each difference becomes. If prospects cannot see real differences between companies or products, they will search for differences elsewhere.

Do you know how many salespeople fail to differentiate themselves from competitors?

Surprising Statistics

According to research conducted by The Sales Board in Minneapolis, Minn., 82% of salespeople fail to differentiate themselves from competitors.

The result?

They either fail to sell value, don’t get their price or lose the business. Participating in this study were 16,000 customers and 300 salespeople in 25 different industries.

There may be a way you can set yourself apart from your competitors.

Have a brainstorming session with your co-workers and answer these three questions:

—What can I do for my customers that no one else can do?

—What can I offer that no one else can offer?

—What can I do for my customer that my competitor can also do, but I can do it better and I can prove it?

By answering these questions, you will be in a position to help your customers distinguish between you and your competition.

Once your prospects see your uniqueness and advantages, it will be easier for them to make a decision in your favor.

There may be ways you can set yourself apart from your competitors—ways you haven't thought about.

How You Can Differentiate Yourself

Anytime your customers can't tell the difference between your product or service and your competitor's product or service, the customer will buy based on price.

If you can differentiate your company, your product, your quality, your service, and yourself, the customer will stop focusing on price and start seeing you as a partner, and not just as a supplier.

Two things to say to prospects and customers on a sales call, when you differentiate yourself—after stating your name and your company's name:

—Make a statement about a typical problem experienced in your industry or target market; and

—Make a statement about how you can help solve that problem.

Your statement of competitive advantage is a 30-second statement of what differentiates your company from competitors.

If you clearly know your competitive advantages and are able to articulate your differences clearly to prospective customers, you will rise above your competition to make more sales, more profits and more long-term satisfied customers.

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Ann Barr is a consultant and sales trainer who has

written eight books on sales and marketing
available on her web site www.sellingsupplies.com